Global Financial Crisis

The current recession encompasses the worst economic conditions seen in the United States since the Great Depression. According to the National Bureau of Economic Research this economic downturn began in December 2007, however some of its roots lay in the remedies for the previous official recession, which happened during 2001. The links in this guide take you through recent interest rate cuts, subprime mortgage issuance and asset-backed securities and how they led to the current state of the economy.